The Nigeria Institutions of Estate Surveyors and Valuers (NIESV) has called for external support for real estate financing and projects.
Its President, Rowland Abonta, made the call at the institutions’ Seminar/Interactive Session on Thursday in Lagos.
Theme of the seminar was: “Dynamics of Establishing and Running a Vibrant Mega Estate Practice.”
Abonta also stressed the need to leverage on the key sectors of the nation’s economy such as housing, telecommunications, agriculture, power, tourism, hospitality, infrastructure, among others.
”Real estate practice today thrives on trust, confidence, specialisation, professionalism, prompt and quality service delivery and funds accessibility, being a capital intensive venture.
”It is inevitable in view of today’s reality that external support for real estate financing and projects would be required.
”This ultimately leads to international competition and increase in foreign investments in the real estate sector; this is the reality we must face.
”This requirement can effectively be met in partnership and mega practices, otherwise, we would soon be squeezed out of relevance,” he said.
According to him, we live in a dynamic world where technology is changing the real estate industry and the outlook more than ever before.
Abonta, represented by Mr Emma Wike, said that there was need to be proactive, move with time and take conscious steps and deliberate efforts to embrace and key into the global standard and practices.
In his remarks, Chairman of the occasion, Mr Joe Idudu, called for partnership among individuals and corporate organisations to build and promote mega estate practice.
Idudu said that a big firm could be established through collaboration and nurturing, adding small firms could grow, but they just need nurturing.